NEWS

Jho Low drops claims to New York's Park Lane Hotel to facilitate sale

Published
Modified 17 Nov 2018, 3:30 am

Fugitive Malaysian financier Jho Low has agreed to withdraw claims to the luxury Park Lane Hotel in New York to facilitate its sale to Abu Dhabi state fund Mubadala, as part of a US forfeiture lawsuit.

A spokesperson for Low stated that the decision to withdraw his claim came upon "lengthy and successful negotiations endorsed by the US Department of Justice (DOJ) and Abu Dhabi government-owned Mubadala Development Company."

"...Claimants in the civil proceedings relating to the Park Lane Hotel in New York will seek to withdraw their claims to the property, thereby paving the way for the expeditious sale of the hotel to Abu Dhabi’s Mubadala and other investors...

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